Asian shares gained and the dollar was near a two-year low against the euro on Wednesday after disappointing U.S. jobs data firmly pushed expectations for the tapering of Federal Reserve stimulus into next year.
Australian shares were up 0.3 percent at five-year highs. The Australian dollar jumped about a quarter of a U.S. cent after data showed the consumer price index rose more than expected, reducing expectations for another interest rate cut by the central bank.
U.S. nonfarm payrolls increased by 148,000 workers in September, less than expected. While the employment gain in August was revised up, the July figure was revised down to be the weakest since June 2012.
The report suggested the economy was losing momentum even before the U.S. fiscal standoff that partially shut down the government for more than two weeks, lending credence to the central bank's decision to hold off on reducing its stimulus.
Nine of 15 U.S. primary dealers surveyed by Reuters on Tuesday expect the Fed to begin tapering its $85 billion-a-month bond-buying programme in March.
U.S. crude surplus helped push the U.S. crude price down about 0.1 percent to $98.24.
Gold was nearly unchanged at $1,339.55 an ounce, having risen to a four-week high after the payrolls data.
Source: Reuters
